Investment Objective

To provide capital growth and manage risk for investors planning to retire in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in a balanced mix of investments that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 26% - 63%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 13% - 47%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2025
  • Who have a moderate tolerance for risk and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$17.19

Daily $ Change

-$0.07

Daily % Change

-0.41%

as of 09/27/2022

CUSIP

302027644

Inception Date

08/03/2012

This fund is only available for use within certain qualified employee benefit plans.

Important Documents

Annual Report
Applications & Forms

Each Retirement Target CIT Fund seeks to achieve its investment objectives by investing in a combination of other Manning & Napier CIT Funds (the “underlying CIT Funds”) in order to meet its target asset allocations and investment style. The financial statements of the underlying Pro-Mix® CIT Funds should be read in conjunction with the Retirement Target CIT Funds’ financial statements.
Pro-Mix® CIT Fund Annual Report

Performance

As of 08/31/2022

YTD

-12.92%

1 Year

-12.51%

3 Year

4.46%

5 Year

5.03%

10 Year

6.13%

Inception
(01/01/2000)

6.42%

Performance through the inception date of the Retirement Target CIT Class I Units is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class I expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.70%
Net 0.69%*

*Includes acquired fund fees and expenses of the underlying collective investment trusts and reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 08/31/2022

TREASURY NOTES 14.30%
TREASURY BONDS 11.83%
GOVERNMENT AGENCY 6.58%
AMAZON.COM INC 2.01%
MICROSOFT CORP 1.55%
JOHNSON & JOHNSON 1.43%
MASTERCARD INC-CLASS A 1.28%
SBA COMMUNICATIONS CORP 1.25%
META PLATFORMS INC 1.12%
TENCENT HOLDINGS 3.97500 04/11/2029 1.11%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Bonds 55.44%
Stocks 40.59%
Cash 3.97%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities 10.71%
Small Capitalization 0.68%
Mid Capitalization 2.79%
Large Capitalization 26.42%
Long Term Fixed Income 16.91%
Intermediate Term Fixed Income 33.82%
Short Term Fixed Income 4.70%
Cash 3.97%

Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.

August Fund Holdings

As of 08/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 107.47 $11,031.98
ACTIVISION INC US ATVI 2,888.9 $226,749.47
ADIDAS AG-SPONSORED ADR DE ADDYY 1,939.4 $143,864.88
ADMIRAL GROUP PLC GB AMIGY 7,985.41 $201,072.73
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 60,842.53 $52,146.43
ADYEN NV UNSPON ADR NL ADYEY 14,752.45 $228,810.57
AGREE REALTY CORP US ADC 197.43 $14,870.16
AIR LIQUIDE-ADR FR AIQUY 11,645.13 $291,943.53
AIR LEASE CORP 3.62500 04/01/2027 US 148,235.24 $137,525.14
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 16,167.35 $16,277.39
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 317,439.51 $266,958.85
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 87,930.59 $73,275.21
ALLSTATE CORPORATION US ALL 45.12 $5,437.46
ALPHABET INC-CL A US GOOGL 3,483.32 $376,964.40
AMAZON.COM INC US AMZN 7,813.11 $990,468.31
AMAZON.COM INC 3.30000 04/13/2027 US 294,490.11 $288,137.27
DIAGEO PLC GB DGE LN 974.21 $42,326.09
BAE SYSTEMS PLC GB BA/ LN 3,812.72 $34,337.77
AMERICAN HOMES 4 RENT- A US AMH 982.9 $34,951.85
AMERICAN TOWER REIT INC US AMT 109.22 $27,748.18
ANALOG DEVICES INC US ADI 62.06 $9,404.07
APPLE HOSPITALITY REIT INC US APLE 2,189.34 $34,832.35
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 17,585.57 $17,760.04
ARCHER-DANIELS-MIDLAND CO US ADM 70.55 $6,200.29
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 142,602.48 $130,676.85
AUTOMATIC DATA PROCESSING US ADP 43.38 $10,601.48
AVALONBAY COMMUNITIES INC US AVB 167.01 $33,553.10
BAE SYSTEMS PLC -SPON ADR GB BAESY 5,677.05 $204,941.40
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 135,088.5 $132,984.99
BANK OF AMERICA CORP 2.68700 04/22/2032 US 245,419.75 $204,830.61
BARRICK GOLD CORP CA GOLD 6,942.13 $103,090.67
BAXTER INTERNATIONAL INC US BAX 54.38 $3,124.74
BEST BUY INC US BBY 43.66 $3,086.03
BIOMARIN PHARMACEUTICAL INC US BMRN 3,179.97 $283,653.64
BLACKROCK INC US BLK 305.15 $203,346.90
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 128,293.06 $113,513.73
DECHRA PHARMACEUTICALS PLC GB DPH LN 791.79 $32,022.42
BRANDYWINE REALTY TRUST US BDN 1,228.7 $9,866.45
BABS 2021-RM2 A 1.75000 10/25/2061 US 32,532.47 $28,893.94
BRISTOL MYERS SQUIBB CO US BMY 203.58 $13,723.06
BROADRIDGE FINANCIAL SOLUTIONS US BR 21.11 $3,613.84
JONAH ENERGY PARENT LLC US 687.86 $39,145.86
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 125,573.48 $114,113.67
SORT 2020-1 A2 1.99000 07/15/2060 US 104,749.48 $89,800.66
C.H. ROBINSON WORLDWIDE INC US CHRW 28.56 $3,260.50
CIM 2019-INV1 A1 4.00000 02/25/2049 US 5,029.64 $4,991.29
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 344,240.98 $338,806.44
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 191,244.99 $185,795.46
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 30,753.55 $28,567.00
COTERRA ENERGY INC US CTRA 106.51 $3,292.19
CAMDEN PROPERTY TRUST US CPT 187.84 $24,139.08
CAMECO CORP CA CCJ 530.13 $15,453.30
CAMPBELL SOUP CO US CPB 61.76 $3,111.30
CANADIAN NATIONAL RAILWAY CO CA CNI 2,907.2 $345,695.17
CARETRUST REIT INC US CTRE 1,324.33 $28,526.04
CATERPILLAR INC US CAT 56.29 $10,397.33
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 1,174.4 $22,818.64
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 332,358.66 $363,004.74
CHARTER COMMUNICATIONS INC-A US CHTR 697.24 $287,701.90
CHEVRON CORP US CVX 103.18 $16,308.02
CINCINNATI FINANCIAL CORP US CINF 28.71 $2,783.73
CISCO SYSTEMS INC US CSCO 351.32 $15,711.03
CITIGROUP INC US C 214.77 $10,483.06
CITIGROUP INC 1.46200 06/09/2027 US 235,209.6 $207,611.11
CLARK CNTY NV 1.51000 11/01/2028 US 195,069.89 $167,014.72
COCA COLA CO/THE US KO 6,073.16 $374,774.87
COLGATE-PALMOLIVE CO US CL 104.31 $8,158.33
COMCAST CORP-CL A US CMCSA 379.88 $13,747.97
COMMUNITY HEALTHCARE TRUST I US CHCT 414.6 $15,294.58
CONAGRA BRAND INC. US CAG 95.15 $3,271.32
CONOCOPHILLIPS US COP 95.83 $10,488.36
CONTROLADORA VUELA CIA DE AV MX VLRS 1,362.5 $12,099.04
COPART INC US CPRT 1,712.02 $204,843.71
COUSINS PROPERTIES INC US CUZ 913.97 $24,540.20
CAALT 2020-1A 2.01000 02/15/2029 US 12,605.6 $12,585.56
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 186,463.86 $172,335.92
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 187,471.7 $165,966.16
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 17,313.76 $15,422.40
CUMMINS INC US CMI 22.98 $4,948.55
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 101,359.84 $90,264.08
KIMBERLY CLARK DE MEXICO S.A.B. MX 26,654.5 $36,184.97
DEVON ENERGY CORPORATION US DVN 69.96 $4,940.48
DIAMONDBACK ENERGY INC US FANG 22.68 $3,023.23
DIGITAL REALTY TRUST INC US DLR 340.16 $42,054.47
DOLLAR TREE STORES INC US DLTR 1,496.5 $203,044.94
DOW INC US DOW 75 $3,824.76
DREYFUS GVT CSH MANAGEMENT US 2,039,557.16 $2,039,557.16
DUKE RLTY INVTS INC US DRE 393.61 $23,163.73
EOG RESOURCES INC US EOG 52.42 $6,358.69
EASTMAN CHEM CO US EMN 26.51 $2,412.82
EBAY INC US EBAY 67.18 $2,964.47
ELECTRONIC ARTS US EA 1,731.48 $219,673.48
EMERSON ELEC CO US EMR 76.43 $6,247.06
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 312,893.37 $316,273.68
EQUINIX INC US EQIX 489.88 $322,031.97
EQUITY LIFESTYLE PROPERTIES US ELS 695.57 $48,759.27
ESSEX PROPERTY TRUST INC US ESS 103.29 $27,376.81
EXPEDIA GROUP INC 3.25000 02/15/2030 US 151,548.07 $131,140.67
EXTRA SPACE STORAGE INC US EXR 83.88 $16,668.81
FMC CORP US FMC 4,340.67 $469,139.78
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 55,079.37 $55,281.25
FREMF 2015-K43 B FLT 3.85980 02/25/2048 US 327,466.29 $316,669.20
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 14,940,848.83 $3,502.28
META PLATFORMS INC US META 3,398.39 $553,699.28
FHLM POOL G03332 6.00000 10/01/2037 US 2,166.78 $2,336.15
FHLM POOL G05900 6.00000 03/01/2040 US 4,343.76 $4,703.99
FHLM POOL G05906 6.00000 04/01/2040 US 6,199.94 $6,659.70
FHLM POOL G06995 6.00000 05/01/2040 US 12,828.61 $13,840.26
FHLM POOL G13331 5.50000 10/01/2023 US 45.21 $45.47
FHLM POOL G12988 6.00000 01/01/2023 US 7.89 $7.89
FHLM POOL G13078 6.00000 03/01/2023 US 16.08 $16.09
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 57,849.13 $58,447.74
FHLM POOL C91780 4.50000 07/01/2034 US 20,057.74 $20,579.63
FR SD1129 4.00000 08/01/2051 US 80,494.81 $79,489.52
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 277,985.24 $259,867.45
FHLM POOL SD8230 4.50000 06/01/2052 US 224,713.37 $223,943.34
FHLM POOL K91364 4.50000 11/01/2033 US 2,526.64 $2,573.21
FHLM POOL K92059 4.50000 09/01/2034 US 16,268.68 $16,687.06
FHLM POOL G60034 4.50000 02/01/2045 US 101,230.57 $103,504.25
FNR 2018-31 KP 3.50000 07/25/2047 US 4,807.34 $4,752.70
FHMS K030 X1 FLT 0.25907 04/25/2023 US 5,851,051.3 $3,710.80
FHMS K032 X1 FLT 0.17942 05/25/2023 US 3,889,140.63 $1,986.22
FHR 5189 CP 2.50000 06/25/2049 US 157,124.37 $143,046.49
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 11,231.91 $11,488.58
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 56,327.61 $57,614.75
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 168,401.7 $179,427.74
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 14,193.12 $13,724.47
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 46,789.01 $46,410.29
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 47,079.03 $45,344.12
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 266,326.07 $257,509.67
FN DS2696 3.00000 12/01/2051 US 331,453.5 $309,612.20
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 1.93 $1.93
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 13,199.66 $14,222.64
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 20,752.9 $21,228.79
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 34,062.66 $34,843.77
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 17,746.91 $17,268.94
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 300,280.65 $273,731.59
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 285,799.89 $273,127.44
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 282,459.4 $276,324.35
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 284,433.5 $280,951.33
FN MA4733 4.50000 09/01/2052 US 310,555.1 $309,251.45
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 6,481.96 $6,952.86
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 3,962.04 $4,257.57
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 275.85 $280.17
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 18,325.4 $18,745.02
FEDEX CORPORATION US FDX 914.36 $192,757.22
FIFTH THIRD BANCORP US FITB 121.31 $4,142.89
FLX 2021-1A A2 3.25000 11/27/2051 US 223,358.66 $204,083.68
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 168,242.61 $160,221.95
FORD MOTOR CREDIT 3.08700 01/09/2023 US 29,844 $29,610.22
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 77,104.65 $69,924.51
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 106,163.71 $95,995.85
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 133,291.34 $120,756.50
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 120,558.25 $108,695.98
GENERAL DYNAMICS CORP US GD 34.64 $7,930.43
GENERAL MLS INC US GIS 87.46 $6,716.82
GENUINE PARTS CO US GPC 27.1 $4,227.09
GETTY REALTY CORP US GTY 536.68 $16,143.31
GILEAD SCIENCES INC US GILD 157.17 $9,975.46
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 110,802.69 $99,367.82
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 41,572.26 $39,452.14
GRAPHIC PACKAGING HOLDING CO US GPK 9,520.98 $212,032.25
GREENIDGE GEN HLD INC US 1,192.4 $16,705.55
GRUPO AEROPORTUARIO PAC-ADR MX PAC 44.59 $6,356.92
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 31.16 $6,589.78
AIRBUS SE FR AIR FP 197.76 $19,379.21
ADIDAS AG DE ADS GR 258.74 $38,367.17
HCA INC 4.12500 06/15/2029 US 212,876.86 $197,769.24
HDFC BANK LTD-ADR IN HDB 430.39 $26,275.43
L'OREAL FR OR FP 25.63 $8,801.34
HAWAII ST 2.68200 10/01/2038 US 116,999.01 $91,967.35
HEALTHCARE REALTY TRUST INC US HR 1,325.61 $32,238.80
HEINEKEN NV-SPN ADR NL HEINY 4,128.5 $185,452.20
HOME DEPOT INC US HD 76.48 $22,059.52
HONEYWELL INTERNATIONAL INC US HON 66.8 $12,648.00
HWIRE 2021-1 A2 2.31100 11/20/2051 US 55,303.49 $48,936.94
IIP OPERATING PARTNER 5.50000 05/25/2026 US 39,813.73 $35,463.55
IDEXX LABORATORIES INC US IDXX 600.78 $208,843.46
KERRY GROUP PLC-A IE KYGA ID 163.9 $16,901.20
ILLINOIS TOOL WKS INC US ITW 39.22 $7,641.98
IMPRL 2021-NQM3 1.59500 11/25/2056 US 123,659.71 $105,540.61
INDEPENDENCE REALTY TRUST IN US IRT 588.7 $11,450.23
INTEL CORP US INTC 369.85 $11,805.52
INTERCONTINENTALEXCHANGE INC US ICE 4,306.21 $434,281.04
INTERNATIONAL FLVRS & FRAGRANCES US IFF 39.39 $4,351.92
INTUITIVE SURGICAL INC US ISRG 1,000.21 $205,783.02
INVITATION HOMES INC US INVH 1,244.67 $45,156.48
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 35,239.06 $33,522.92
JP MORGAN CHASE & CO US JPM 212.67 $24,187.27
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 34,325.04 $32,762.94
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 351,346.1 $341,757.28
JOHNSON & JOHNSON US JNJ 4,374.81 $705,831.23
KREF 2021-FL2 A 3.44971 02/15/2039 US 53,255.21 $51,682.10
KEYCORP US KEY 131.01 $2,317.48
KROGER CO US KR 108.09 $5,181.66
L3HARRIS TECHNOLOGIES INC US LHX 940.52 $214,617.76
BEIERSDORF AG DE BEI GR 397.43 $40,116.23
LENNAR CORP US LEN 37.92 $2,937.12
LIFE STORAGE INC US LSI 239.14 $30,430.05
LOCKHEED MARTIN CORP US LMT 27.44 $11,527.76
LULULEMON - ADR CA LULU 853.21 $255,927.90
MAGALLANES INC 4.05400 03/15/2029 US 362,512.48 $329,950.75
MARATHON PETROLEUM CORP US MPC 54.35 $5,475.80
MARRIOTT VACATIONS WORLD US VAC 112.24 $15,984.53
MASTERCARD INC-CLASS A US MA 1,952.13 $633,211.85
MCDONALDS CORP US MCD 47.52 $11,989.52
MERCADOLIBRE INC BR MELI 44.58 $38,133.04
MERCK & CO INC US MRK 221.85 $18,937.50
MICROSOFT CORP US MSFT 2,925.05 $764,812.27
MICROCHIP TECHNOLOGY INC US MCHP 63.35 $4,133.68
MID-AMERICA APARTMENT COMM US MAA 198.42 $32,872.82
MONDELEZ INTERNATIONAL INC US MDLZ 7,531.72 $465,912.38
MOODY'S CORPORATION US MCO 1,260.79 $358,721.14
MOTOROLA SOLUTIONS INC US MSI 23.91 $5,819.73
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 109,748.71 $102,683.04
NAVIENT CORP 6.75000 06/25/2025 US 55,949.35 $54,014.36
NESTLE S.A. - ADR CH NSRGY 2,717.58 $318,119.59
NETAPP INC US NTAP 42.97 $3,099.15
USRE 2021-1 A1 1.91000 10/20/2061 US 62,728.49 $54,490.61
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 36,557.84 $34,967.14
NRZT 2015-2A A1 3.75000 08/25/2055 US 48,576.99 $46,300.35
NRZT 2016-4A A1 3.75000 11/25/2056 US 94,106.25 $89,839.16
KEYENCE CORP JP 6861 JP 78.54 $29,488.01
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 72,785.15 $70,372.48
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 156,977.09 $136,218.27
NEWMONT GOLDCORP CORP US NEM 2,071.42 $85,674.03
NIKE INC CLASS B US NKE 1,846.01 $196,507.66
NORFOLK SOUTHN CORP US NSC 913.84 $222,182.48
NIKON CORP JP 7731 JP 1,489.46 $17,002.47
NORTHROP GRUMMAN CORP US NOC 508.13 $242,882.31
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 55,283.11 $5.53
NOVARTIS AG- REG CH NVS 6,068.47 $488,632.97
NUCOR CORP US NUE 38.46 $5,112.72
OBX 2022-INV1 A1 3.00000 12/25/2051 US 124,879.45 $111,302.69
OMNICOM GROUP US OMC 43.06 $2,880.38
SONY CORP FIRST SECTION JP 6758 JP 362.63 $28,830.44
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 150,659.76 $134,802.00
OXFIN 2020-1A A2 3.10100 02/15/2028 US 156,244.52 $154,708.62
OXFIN 2022-1A 3.60200 02/15/2030 US 207,703.87 $194,948.22
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 30,663.89 $29,441.21
PPG INDUSTRIES INC US PPG 25.87 $3,284.86
PACKAGING CORP OF AMERICA US PKG 19.75 $2,703.72
PARKER HANNIFIN CORP US PH 14.31 $3,791.42
DEUTSCHE BOERSE AG DE DB1 GR 205.69 $34,776.88
PAYPAL HOLDINGS INC US PYPL 4,275.62 $399,513.98
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 234,992.87 $223,141.68
PELORUS FUND REIT 7.00000 09/30/2026 US 22,413.56 $20,868.10
NESTLE SA-REGISTERED CH NESN SW 530.98 $62,137.23
PEPSICO INC 3.90000 07/18/2032 US 268,264.56 $263,529.78
PFIZER INC US PFE 314.61 $14,229.62
PIONEER NATURAL RESOURCES CO US PXD 22.68 $5,743.87
POPULAR INC 6.12500 09/14/2023 PR 53,645.03 $54,332.02
PROCTER & GAMBLE CO US PG 169.77 $23,418.26
PROLOGIS US PLD 1,049.21 $130,636.74
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 202,251.74 $172,903.08
PFMT 2021-2 A2A 2.00000 04/25/2051 US 124,174.4 $108,506.77
PUBLIC STORAGE INC US PSA 183.69 $60,769.94
QUALCOMM INC US QCOM 108.5 $14,351.24
QUALCOMM INC 4.25000 05/20/2032 US 210,369.48 $212,868.73
QUEST DIAGNOSTICS INC US DGX 25.28 $3,168.07
RCKT 2021-6 A1 2.50000 12/25/2051 US 254,155.55 $216,765.26
RADIUS GLOBAL INFRASTRUCTURE US RADI 3,788.21 $52,163.68
REGIONS FINANCIAL CORP. US RF 170.88 $3,703.00
REPUBLIC SERVICES INC US RSG 45.62 $6,510.30
RESTAURANT BRANDS INTERN CA QSR 334.1 $19,712.15
REXFORD INDUSTRIAL REALITY IN US REXR 647.98 $40,310.97
GETINGE AB-B SHS SE GETIB SS 1,542.36 $28,566.87
ROSS STORES INC US ROST 39.75 $3,429.19
HEINEKEN NV NL HEIA NA 378.6 $34,028.43
RYANAIR HOLDINGS - ADR IE RYAAY 2,646.95 $192,459.89
SBA TOWER TRUST 1.88400 01/15/2026 US 165,426.91 $149,070.01
S&P GLOBAL INC US SPGI 410.96 $144,730.39
SBA COMMUNICATIONS CORP US SBAC 1,894.04 $616,036.75
NAVIENT CORP 5.50000 01/25/2023 US 28,051.75 $27,920.55
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 42,726.55 $36,536.99
SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 40,443.2 $37,493.41
SMB 2020-BA A1A 1.29000 07/15/2053 US 143,691.23 $130,250.87
SALESFORCE INC US CRM 2,677.31 $417,980.87
SEA LTD - ADR SG SE 460.85 $28,572.73
SEAGEN INC US SGEN 1,191.61 $183,853.72
SEMT 2013-6 A2 3.00000 05/25/2043 US 46,853.36 $43,800.43
SEMT 2013-7 A2 3.00000 06/25/2043 US 19,565.15 $17,543.47
SEMT 2013-8 A1 3.00000 06/25/2043 US 22,861.42 $21,423.90
SEMT 2013-2 1.87400 02/25/2043 US 17,740.2 $15,700.79
SERVICENOW INC US NOW 908.53 $394,867.17
SHOPIFY INC CA SHOP 388.41 $12,293.28
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 470,419.2 $393,872.42
SKYWORKS SOLUTIONS INC US SWKS 22.78 $2,244.86
JM SMUCKER CO/THE-NEW COM WI US SJM 22.44 $3,141.50
SNOWFLAKE INC-CLASS A US SNOW 1,089.63 $197,167.76
SOFI 2017-F A2FX 2.84000 01/25/2041 US 8,064.48 $7,904.82
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 38,113.91 $37,356.30
SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 25,474.64 $24,245.34
SONY CORP SPONSORED ADR JP SONY 2,560.39 $203,166.96
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 172,714.73 $155,106.56
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 79,366.67 $81,471.19
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 169,193.41 $172,326.42
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 27,317.61 $27,181.21
STANLEY BLACK & DECKER INC US SWK 21.31 $1,877.47
SRPT 2014-STAR A FLTG RATE 3.86200 11/15/2027 US 212,162.38 $148,660.09
STEEL DYNAMICS INC US STLD 39.19 $3,163.66
SUN COMMUNITIES US SUI 328.11 $50,433.85
SCML 2019-SBC8 2.86000 04/25/2041 US 111,227.94 $102,841.02
SYNCHRONOSS TECH US 2,243.95 $48,738.61
SYNERGY ONE LENDING 5.50000 10/14/2026 US 62,556.67 $54,015.88
TJX COMPANIES INC US TJX 103.67 $6,464.11
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 487.58 $40,639.63
TARGET CORP US TGT 36.94 $5,922.86
TENCENT HOLDINGS 3.97500 04/11/2029 KY 580,577.94 $547,190.20
TERRENO REALTY CORP US TRNO 416.89 $25,425.96
TEXAS INSTRUMENTS INC US TXN 64.1 $10,589.82
THERMO FISHER SCIENTIFIC INC US TMO 406.88 $221,881.18
3M CO US MMM 65.36 $8,126.99
TPMT 2016-5 A1 2.50000 10/25/2056 US 42,508.95 $42,083.31
TPMT 2017-1 A1 2.75000 10/25/2056 US 23,026.05 $22,828.42
TPMT 2019-HY1 A1 3.44371 10/25/2048 US 45,081.31 $44,574.93
TRACTOR SUPPLY COMPANY US TSCO 15.92 $2,948.03
TRAVELLERS COS INC US TRV 34.15 $5,519.94
TAH 2017-SFR2 A 2.92800 01/17/2036 US 118,002.51 $116,072.51
TCF 2021-1A 1.86000 03/20/2046 US 180,590.16 $156,145.58
TYSON FOODS INC -CL A US TSN 55.56 $4,188.31
UDR INC US UDR 1,011.25 $45,374.74
U.S. BANCORP US USB 177.32 $8,087.46
UNILEVER PLC - ADR GB UL 10,694.78 $485,435.92
UNION PAC CORP US UNP 60.38 $13,555.28
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 54,238.62 $45,691.96
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 9,142.91 $8,523.24
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 29,365.88 $29,391.82
UNITED PARCEL SERVICE US UPS 1,170.11 $227,598.74
US TREASURY N/B 3.00000 05/15/2047 US 522,720.35 $477,145.67
TREASURY BOND 2.37500 02/15/2042 US 3,114,497.25 $2,592,818.96
TREASURY BOND 2.25000 11/15/2027 US 2,908,912.29 $2,760,739.57
US TREASURY N/B 3.12500 11/15/2028 US 898,937.67 $889,597.15
US TREASURY N/B 2.25000 11/15/2025 US 1,928,705.68 $1,857,433.99
US TREASURY N/B 2.00000 11/15/2026 US 2,309,427.18 $2,183,491.23
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 1,451,941.98 $1,435,721.07
US TREASURY N/B 1.37500 11/15/2031 US 791,785.47 $680,316.93
VF CORP US VFC 52.49 $2,175.83
VENTAS INC US VTR 379.82 $18,178.11
VERTEX PHARMACEUTICALS INC US VRTX 944.05 $265,994.58
PARAMOUNT GLOBAL CLASS B US PARA 87.9 $2,055.96
VISA INC - CLASS A SHARES US V 2,579.86 $512,644.21
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 65,853.88 $63,505.65
VISTRA OPERATIONS 4.87500 05/13/2024 US 231,094.71 $228,453.49
WAL MART STORES US WMT 196.72 $26,075.17
WALGREENS BOOTS ALLIANCE INC US WBA 98.23 $3,443.89
WASTE MANAGEMENT INC US WM 50.53 $8,540.41
WELLTOWER INC. US WELL 438.75 $33,630.29
WIN 2015-1 A1 3.50000 01/20/2045 US 12,157.72 $11,708.95
ZOETIS INC US ZTS 587.49 $91,960.48
ADMIRAL GROUP PLC GB ADM LN 1,936.56 $47,636.94
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 935.95 $6,125.36
UBISOFT ENTERTAINMENT FR UBI FP 597.95 $27,574.49
DANONE FR BN FP 301.08 $15,842.77
AIR LIQUIDE FR AI FP 453.93 $56,883.13
BRENNTAG AG DE BNR GR 382.47 $25,077.68
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 172,432.89 $7,903.41
KEYWORDS STUDIOS PLC IE KWS LN 310.79 $8,957.14
S4 CAPITAL PLC GB SFOR LN 15,200.26 $23,362.33
HELIOS TOWERS PLC GB HTWS LN 9,449.48 $13,541.76
AVANZA BANK HOLDING AB SE AZA SS 1,458.27 $23,374.62
AMERICAN TANKER INC 7.75000 07/02/2025 US 59,620.08 $57,639.36
SOFTWAREONE HOLDING AG CH SWON SW 1,974.48 $25,958.74
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,113.58 $17,650.23
SEASPAN CORP 6.50000 02/05/2024 MH 48,490.38 $48,125.12
PETROTAL CORP 12.00000 02/16/2024 CA 46,521.43 $47,451.86
FINECOBANK SPA IT FBK IM 4,457.42 $48,195.00
ALLFUNDS GROUP PLC GB ALLFG NA 2,462.68 $19,335.69
AIRSWIFT GLOBAL AS FLT 11.42271 05/12/2025 NO 58,731.77 $58,894.59
ROTORK PLC GB ROR LN 8,494.39 $24,368.78
AUTO TRADER GROUP PLC GB AUTO LN 6,363.77 $48,050.79
CELLNEX TELECOM SA ES CLNX SM 700.83 $27,292.08
ASSA ABLOY AB-B SE ASSAB SS 1,373.74 $27,823.65
CLEANAWAY WASTE MANAGEMENT AU CWY AU 18,201.55 $34,570.31
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,739 $27,489.76
ADYEN NV NL ADYEN NA 28.06 $43,308.05
BANK OF N.T. BUTTERFIELD&SON BM NTB 544.76 $17,770.23
BUNGE LIMITED US BG 27.78 $2,754.74
EATON CORP PLC US ETN 53.15 $7,262.22
JOHNSON CONTROLS INTERNATIONAL US JCI 95.78 $5,185.35
MEDTRONIC INC IE MDT 2,813.69 $247,379.27
ROYALTY PHARMA PLC- CL A US RPRX 78.25 $3,271.46
STONECO LTD-A BR STNE 1,972.81 $18,702.22
TRANE TECHNOLOGIES IE TT 25.38 $3,909.90
ALCON INC CH ALC 3,639.87 $239,066.50
CHUBB LTD CH CB 47.17 $8,918.05
GARMIN LTD CH GRMN 34.88 $3,086.26
TE CONNECTIVITY LIMITED CH TEL 35.02 $4,420.35
LYONDELLBASELL INDU-CL A US LYB 36.21 $3,005.03
PLAYA HOTELS AND RESORTS US PLYA 1,147.23 $7,525.83
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 27,212.15 $26,168.52

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Extended Term CIT Fund and Manning & Napier Pro-Mix® Moderate Term CIT Fund. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

A Word About Risk

Each Manning & Napier Retirement Target CIT Fund is invested in one or two of four proprietary risk-based funds, the Manning & Napier Pro-Mix® CIT Funds, based on the Retirement Target CIT Fund becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing life cycle investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.

Daily Price

$17.19

Daily $ Change

-$0.07

Daily % Change

-0.41%

as of 09/27/2022

CUSIP

302027644

Inception Date

08/03/2012

This fund is only available for use within certain qualified employee benefit plans.

Important Documents

Annual Report
Fact Sheet
Applications & Forms

Each Retirement Target CIT Fund seeks to achieve its investment objectives by investing in a combination of other Manning & Napier CIT Funds (the “underlying CIT Funds”) in order to meet its target asset allocations and investment style. The financial statements of the underlying Pro-Mix® CIT Funds should be read in conjunction with the Retirement Target CIT Funds’ financial statements.
Pro-Mix® CIT Fund Annual Report

Investment Objective

To provide capital growth and manage risk for investors planning to retire in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in a balanced mix of investments that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 26% - 63%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 13% - 47%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2025
  • Who have a moderate tolerance for risk and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 08/31/2022

YTD

-12.92%

1 Year

-12.51%

3 Year

4.46%

5 Year

5.03%

10 Year

6.13%

Inception
(01/01/2000)

6.42%

Performance through the inception date of the Retirement Target CIT Class I Units is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class I expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.70%
Net 0.69%*

*Includes acquired fund fees and expenses of the underlying collective investment trusts and reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 08/31/2022

TREASURY NOTES 14.30%
TREASURY BONDS 11.83%
GOVERNMENT AGENCY 6.58%
AMAZON.COM INC 2.01%
MICROSOFT CORP 1.55%
JOHNSON & JOHNSON 1.43%
MASTERCARD INC-CLASS A 1.28%
SBA COMMUNICATIONS CORP 1.25%
META PLATFORMS INC 1.12%
TENCENT HOLDINGS 3.97500 04/11/2029 1.11%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Bonds
55.44%
Stocks
40.59%
Cash
3.97%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities
10.71%
Small Capitalization
0.68%
Mid Capitalization
2.79%
Large Capitalization
26.42%
Long Term Fixed Income
16.91%
Intermediate Term Fixed Income
33.82%
Short Term Fixed Income
4.70%
Cash
3.97%

Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.

August Fund Holdings

As of 08/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 107.47 $11,031.98
ACTIVISION INC US ATVI 2,888.9 $226,749.47
ADIDAS AG-SPONSORED ADR DE ADDYY 1,939.4 $143,864.88
ADMIRAL GROUP PLC GB AMIGY 7,985.41 $201,072.73
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 60,842.53 $52,146.43
ADYEN NV UNSPON ADR NL ADYEY 14,752.45 $228,810.57
AGREE REALTY CORP US ADC 197.43 $14,870.16
AIR LIQUIDE-ADR FR AIQUY 11,645.13 $291,943.53
AIR LEASE CORP 3.62500 04/01/2027 US 148,235.24 $137,525.14
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 16,167.35 $16,277.39
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 317,439.51 $266,958.85
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 87,930.59 $73,275.21
ALLSTATE CORPORATION US ALL 45.12 $5,437.46
ALPHABET INC-CL A US GOOGL 3,483.32 $376,964.40
AMAZON.COM INC US AMZN 7,813.11 $990,468.31
AMAZON.COM INC 3.30000 04/13/2027 US 294,490.11 $288,137.27
DIAGEO PLC GB DGE LN 974.21 $42,326.09
BAE SYSTEMS PLC GB BA/ LN 3,812.72 $34,337.77
AMERICAN HOMES 4 RENT- A US AMH 982.9 $34,951.85
AMERICAN TOWER REIT INC US AMT 109.22 $27,748.18
ANALOG DEVICES INC US ADI 62.06 $9,404.07
APPLE HOSPITALITY REIT INC US APLE 2,189.34 $34,832.35
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 17,585.57 $17,760.04
ARCHER-DANIELS-MIDLAND CO US ADM 70.55 $6,200.29
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 142,602.48 $130,676.85
AUTOMATIC DATA PROCESSING US ADP 43.38 $10,601.48
AVALONBAY COMMUNITIES INC US AVB 167.01 $33,553.10
BAE SYSTEMS PLC -SPON ADR GB BAESY 5,677.05 $204,941.40
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 135,088.5 $132,984.99
BANK OF AMERICA CORP 2.68700 04/22/2032 US 245,419.75 $204,830.61
BARRICK GOLD CORP CA GOLD 6,942.13 $103,090.67
BAXTER INTERNATIONAL INC US BAX 54.38 $3,124.74
BEST BUY INC US BBY 43.66 $3,086.03
BIOMARIN PHARMACEUTICAL INC US BMRN 3,179.97 $283,653.64
BLACKROCK INC US BLK 305.15 $203,346.90
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 128,293.06 $113,513.73
DECHRA PHARMACEUTICALS PLC GB DPH LN 791.79 $32,022.42
BRANDYWINE REALTY TRUST US BDN 1,228.7 $9,866.45
BABS 2021-RM2 A 1.75000 10/25/2061 US 32,532.47 $28,893.94
BRISTOL MYERS SQUIBB CO US BMY 203.58 $13,723.06
BROADRIDGE FINANCIAL SOLUTIONS US BR 21.11 $3,613.84
JONAH ENERGY PARENT LLC US 687.86 $39,145.86
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 125,573.48 $114,113.67
SORT 2020-1 A2 1.99000 07/15/2060 US 104,749.48 $89,800.66
C.H. ROBINSON WORLDWIDE INC US CHRW 28.56 $3,260.50
CIM 2019-INV1 A1 4.00000 02/25/2049 US 5,029.64 $4,991.29
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 344,240.98 $338,806.44
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 191,244.99 $185,795.46
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 30,753.55 $28,567.00
COTERRA ENERGY INC US CTRA 106.51 $3,292.19
CAMDEN PROPERTY TRUST US CPT 187.84 $24,139.08
CAMECO CORP CA CCJ 530.13 $15,453.30
CAMPBELL SOUP CO US CPB 61.76 $3,111.30
CANADIAN NATIONAL RAILWAY CO CA CNI 2,907.2 $345,695.17
CARETRUST REIT INC US CTRE 1,324.33 $28,526.04
CATERPILLAR INC US CAT 56.29 $10,397.33
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 1,174.4 $22,818.64
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 332,358.66 $363,004.74
CHARTER COMMUNICATIONS INC-A US CHTR 697.24 $287,701.90
CHEVRON CORP US CVX 103.18 $16,308.02
CINCINNATI FINANCIAL CORP US CINF 28.71 $2,783.73
CISCO SYSTEMS INC US CSCO 351.32 $15,711.03
CITIGROUP INC US C 214.77 $10,483.06
CITIGROUP INC 1.46200 06/09/2027 US 235,209.6 $207,611.11
CLARK CNTY NV 1.51000 11/01/2028 US 195,069.89 $167,014.72
COCA COLA CO/THE US KO 6,073.16 $374,774.87
COLGATE-PALMOLIVE CO US CL 104.31 $8,158.33
COMCAST CORP-CL A US CMCSA 379.88 $13,747.97
COMMUNITY HEALTHCARE TRUST I US CHCT 414.6 $15,294.58
CONAGRA BRAND INC. US CAG 95.15 $3,271.32
CONOCOPHILLIPS US COP 95.83 $10,488.36
CONTROLADORA VUELA CIA DE AV MX VLRS 1,362.5 $12,099.04
COPART INC US CPRT 1,712.02 $204,843.71
COUSINS PROPERTIES INC US CUZ 913.97 $24,540.20
CAALT 2020-1A 2.01000 02/15/2029 US 12,605.6 $12,585.56
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 186,463.86 $172,335.92
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 187,471.7 $165,966.16
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 17,313.76 $15,422.40
CUMMINS INC US CMI 22.98 $4,948.55
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 101,359.84 $90,264.08
KIMBERLY CLARK DE MEXICO S.A.B. MX 26,654.5 $36,184.97
DEVON ENERGY CORPORATION US DVN 69.96 $4,940.48
DIAMONDBACK ENERGY INC US FANG 22.68 $3,023.23
DIGITAL REALTY TRUST INC US DLR 340.16 $42,054.47
DOLLAR TREE STORES INC US DLTR 1,496.5 $203,044.94
DOW INC US DOW 75 $3,824.76
DREYFUS GVT CSH MANAGEMENT US 2,039,557.16 $2,039,557.16
DUKE RLTY INVTS INC US DRE 393.61 $23,163.73
EOG RESOURCES INC US EOG 52.42 $6,358.69
EASTMAN CHEM CO US EMN 26.51 $2,412.82
EBAY INC US EBAY 67.18 $2,964.47
ELECTRONIC ARTS US EA 1,731.48 $219,673.48
EMERSON ELEC CO US EMR 76.43 $6,247.06
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 312,893.37 $316,273.68
EQUINIX INC US EQIX 489.88 $322,031.97
EQUITY LIFESTYLE PROPERTIES US ELS 695.57 $48,759.27
ESSEX PROPERTY TRUST INC US ESS 103.29 $27,376.81
EXPEDIA GROUP INC 3.25000 02/15/2030 US 151,548.07 $131,140.67
EXTRA SPACE STORAGE INC US EXR 83.88 $16,668.81
FMC CORP US FMC 4,340.67 $469,139.78
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 55,079.37 $55,281.25
FREMF 2015-K43 B FLT 3.85980 02/25/2048 US 327,466.29 $316,669.20
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 14,940,848.83 $3,502.28
META PLATFORMS INC US META 3,398.39 $553,699.28
FHLM POOL G03332 6.00000 10/01/2037 US 2,166.78 $2,336.15
FHLM POOL G05900 6.00000 03/01/2040 US 4,343.76 $4,703.99
FHLM POOL G05906 6.00000 04/01/2040 US 6,199.94 $6,659.70
FHLM POOL G06995 6.00000 05/01/2040 US 12,828.61 $13,840.26
FHLM POOL G13331 5.50000 10/01/2023 US 45.21 $45.47
FHLM POOL G12988 6.00000 01/01/2023 US 7.89 $7.89
FHLM POOL G13078 6.00000 03/01/2023 US 16.08 $16.09
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 57,849.13 $58,447.74
FHLM POOL C91780 4.50000 07/01/2034 US 20,057.74 $20,579.63
FR SD1129 4.00000 08/01/2051 US 80,494.81 $79,489.52
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 277,985.24 $259,867.45
FHLM POOL SD8230 4.50000 06/01/2052 US 224,713.37 $223,943.34
FHLM POOL K91364 4.50000 11/01/2033 US 2,526.64 $2,573.21
FHLM POOL K92059 4.50000 09/01/2034 US 16,268.68 $16,687.06
FHLM POOL G60034 4.50000 02/01/2045 US 101,230.57 $103,504.25
FNR 2018-31 KP 3.50000 07/25/2047 US 4,807.34 $4,752.70
FHMS K030 X1 FLT 0.25907 04/25/2023 US 5,851,051.3 $3,710.80
FHMS K032 X1 FLT 0.17942 05/25/2023 US 3,889,140.63 $1,986.22
FHR 5189 CP 2.50000 06/25/2049 US 157,124.37 $143,046.49
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 11,231.91 $11,488.58
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 56,327.61 $57,614.75
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 168,401.7 $179,427.74
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 14,193.12 $13,724.47
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 46,789.01 $46,410.29
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 47,079.03 $45,344.12
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 266,326.07 $257,509.67
FN DS2696 3.00000 12/01/2051 US 331,453.5 $309,612.20
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 1.93 $1.93
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 13,199.66 $14,222.64
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 20,752.9 $21,228.79
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 34,062.66 $34,843.77
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 17,746.91 $17,268.94
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 300,280.65 $273,731.59
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 285,799.89 $273,127.44
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 282,459.4 $276,324.35
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 284,433.5 $280,951.33
FN MA4733 4.50000 09/01/2052 US 310,555.1 $309,251.45
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 6,481.96 $6,952.86
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 3,962.04 $4,257.57
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 275.85 $280.17
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 18,325.4 $18,745.02
FEDEX CORPORATION US FDX 914.36 $192,757.22
FIFTH THIRD BANCORP US FITB 121.31 $4,142.89
FLX 2021-1A A2 3.25000 11/27/2051 US 223,358.66 $204,083.68
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 168,242.61 $160,221.95
FORD MOTOR CREDIT 3.08700 01/09/2023 US 29,844 $29,610.22
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 77,104.65 $69,924.51
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 106,163.71 $95,995.85
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 133,291.34 $120,756.50
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 120,558.25 $108,695.98
GENERAL DYNAMICS CORP US GD 34.64 $7,930.43
GENERAL MLS INC US GIS 87.46 $6,716.82
GENUINE PARTS CO US GPC 27.1 $4,227.09
GETTY REALTY CORP US GTY 536.68 $16,143.31
GILEAD SCIENCES INC US GILD 157.17 $9,975.46
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 110,802.69 $99,367.82
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 41,572.26 $39,452.14
GRAPHIC PACKAGING HOLDING CO US GPK 9,520.98 $212,032.25
GREENIDGE GEN HLD INC US 1,192.4 $16,705.55
GRUPO AEROPORTUARIO PAC-ADR MX PAC 44.59 $6,356.92
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 31.16 $6,589.78
AIRBUS SE FR AIR FP 197.76 $19,379.21
ADIDAS AG DE ADS GR 258.74 $38,367.17
HCA INC 4.12500 06/15/2029 US 212,876.86 $197,769.24
HDFC BANK LTD-ADR IN HDB 430.39 $26,275.43
L'OREAL FR OR FP 25.63 $8,801.34
HAWAII ST 2.68200 10/01/2038 US 116,999.01 $91,967.35
HEALTHCARE REALTY TRUST INC US HR 1,325.61 $32,238.80
HEINEKEN NV-SPN ADR NL HEINY 4,128.5 $185,452.20
HOME DEPOT INC US HD 76.48 $22,059.52
HONEYWELL INTERNATIONAL INC US HON 66.8 $12,648.00
HWIRE 2021-1 A2 2.31100 11/20/2051 US 55,303.49 $48,936.94
IIP OPERATING PARTNER 5.50000 05/25/2026 US 39,813.73 $35,463.55
IDEXX LABORATORIES INC US IDXX 600.78 $208,843.46
KERRY GROUP PLC-A IE KYGA ID 163.9 $16,901.20
ILLINOIS TOOL WKS INC US ITW 39.22 $7,641.98
IMPRL 2021-NQM3 1.59500 11/25/2056 US 123,659.71 $105,540.61
INDEPENDENCE REALTY TRUST IN US IRT 588.7 $11,450.23
INTEL CORP US INTC 369.85 $11,805.52
INTERCONTINENTALEXCHANGE INC US ICE 4,306.21 $434,281.04
INTERNATIONAL FLVRS & FRAGRANCES US IFF 39.39 $4,351.92
INTUITIVE SURGICAL INC US ISRG 1,000.21 $205,783.02
INVITATION HOMES INC US INVH 1,244.67 $45,156.48
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 35,239.06 $33,522.92
JP MORGAN CHASE & CO US JPM 212.67 $24,187.27
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 34,325.04 $32,762.94
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 351,346.1 $341,757.28
JOHNSON & JOHNSON US JNJ 4,374.81 $705,831.23
KREF 2021-FL2 A 3.44971 02/15/2039 US 53,255.21 $51,682.10
KEYCORP US KEY 131.01 $2,317.48
KROGER CO US KR 108.09 $5,181.66
L3HARRIS TECHNOLOGIES INC US LHX 940.52 $214,617.76
BEIERSDORF AG DE BEI GR 397.43 $40,116.23
LENNAR CORP US LEN 37.92 $2,937.12
LIFE STORAGE INC US LSI 239.14 $30,430.05
LOCKHEED MARTIN CORP US LMT 27.44 $11,527.76
LULULEMON - ADR CA LULU 853.21 $255,927.90
MAGALLANES INC 4.05400 03/15/2029 US 362,512.48 $329,950.75
MARATHON PETROLEUM CORP US MPC 54.35 $5,475.80
MARRIOTT VACATIONS WORLD US VAC 112.24 $15,984.53
MASTERCARD INC-CLASS A US MA 1,952.13 $633,211.85
MCDONALDS CORP US MCD 47.52 $11,989.52
MERCADOLIBRE INC BR MELI 44.58 $38,133.04
MERCK & CO INC US MRK 221.85 $18,937.50
MICROSOFT CORP US MSFT 2,925.05 $764,812.27
MICROCHIP TECHNOLOGY INC US MCHP 63.35 $4,133.68
MID-AMERICA APARTMENT COMM US MAA 198.42 $32,872.82
MONDELEZ INTERNATIONAL INC US MDLZ 7,531.72 $465,912.38
MOODY'S CORPORATION US MCO 1,260.79 $358,721.14
MOTOROLA SOLUTIONS INC US MSI 23.91 $5,819.73
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 109,748.71 $102,683.04
NAVIENT CORP 6.75000 06/25/2025 US 55,949.35 $54,014.36
NESTLE S.A. - ADR CH NSRGY 2,717.58 $318,119.59
NETAPP INC US NTAP 42.97 $3,099.15
USRE 2021-1 A1 1.91000 10/20/2061 US 62,728.49 $54,490.61
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 36,557.84 $34,967.14
NRZT 2015-2A A1 3.75000 08/25/2055 US 48,576.99 $46,300.35
NRZT 2016-4A A1 3.75000 11/25/2056 US 94,106.25 $89,839.16
KEYENCE CORP JP 6861 JP 78.54 $29,488.01
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 72,785.15 $70,372.48
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 156,977.09 $136,218.27
NEWMONT GOLDCORP CORP US NEM 2,071.42 $85,674.03
NIKE INC CLASS B US NKE 1,846.01 $196,507.66
NORFOLK SOUTHN CORP US NSC 913.84 $222,182.48
NIKON CORP JP 7731 JP 1,489.46 $17,002.47
NORTHROP GRUMMAN CORP US NOC 508.13 $242,882.31
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 55,283.11 $5.53
NOVARTIS AG- REG CH NVS 6,068.47 $488,632.97
NUCOR CORP US NUE 38.46 $5,112.72
OBX 2022-INV1 A1 3.00000 12/25/2051 US 124,879.45 $111,302.69
OMNICOM GROUP US OMC 43.06 $2,880.38
SONY CORP FIRST SECTION JP 6758 JP 362.63 $28,830.44
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 150,659.76 $134,802.00
OXFIN 2020-1A A2 3.10100 02/15/2028 US 156,244.52 $154,708.62
OXFIN 2022-1A 3.60200 02/15/2030 US 207,703.87 $194,948.22
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 30,663.89 $29,441.21
PPG INDUSTRIES INC US PPG 25.87 $3,284.86
PACKAGING CORP OF AMERICA US PKG 19.75 $2,703.72
PARKER HANNIFIN CORP US PH 14.31 $3,791.42
DEUTSCHE BOERSE AG DE DB1 GR 205.69 $34,776.88
PAYPAL HOLDINGS INC US PYPL 4,275.62 $399,513.98
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 234,992.87 $223,141.68
PELORUS FUND REIT 7.00000 09/30/2026 US 22,413.56 $20,868.10
NESTLE SA-REGISTERED CH NESN SW 530.98 $62,137.23
PEPSICO INC 3.90000 07/18/2032 US 268,264.56 $263,529.78
PFIZER INC US PFE 314.61 $14,229.62
PIONEER NATURAL RESOURCES CO US PXD 22.68 $5,743.87
POPULAR INC 6.12500 09/14/2023 PR 53,645.03 $54,332.02
PROCTER & GAMBLE CO US PG 169.77 $23,418.26
PROLOGIS US PLD 1,049.21 $130,636.74
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 202,251.74 $172,903.08
PFMT 2021-2 A2A 2.00000 04/25/2051 US 124,174.4 $108,506.77
PUBLIC STORAGE INC US PSA 183.69 $60,769.94
QUALCOMM INC US QCOM 108.5 $14,351.24
QUALCOMM INC 4.25000 05/20/2032 US 210,369.48 $212,868.73
QUEST DIAGNOSTICS INC US DGX 25.28 $3,168.07
RCKT 2021-6 A1 2.50000 12/25/2051 US 254,155.55 $216,765.26
RADIUS GLOBAL INFRASTRUCTURE US RADI 3,788.21 $52,163.68
REGIONS FINANCIAL CORP. US RF 170.88 $3,703.00
REPUBLIC SERVICES INC US RSG 45.62 $6,510.30
RESTAURANT BRANDS INTERN CA QSR 334.1 $19,712.15
REXFORD INDUSTRIAL REALITY IN US REXR 647.98 $40,310.97
GETINGE AB-B SHS SE GETIB SS 1,542.36 $28,566.87
ROSS STORES INC US ROST 39.75 $3,429.19
HEINEKEN NV NL HEIA NA 378.6 $34,028.43
RYANAIR HOLDINGS - ADR IE RYAAY 2,646.95 $192,459.89
SBA TOWER TRUST 1.88400 01/15/2026 US 165,426.91 $149,070.01
S&P GLOBAL INC US SPGI 410.96 $144,730.39
SBA COMMUNICATIONS CORP US SBAC 1,894.04 $616,036.75
NAVIENT CORP 5.50000 01/25/2023 US 28,051.75 $27,920.55
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 42,726.55 $36,536.99
SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 40,443.2 $37,493.41
SMB 2020-BA A1A 1.29000 07/15/2053 US 143,691.23 $130,250.87
SALESFORCE INC US CRM 2,677.31 $417,980.87
SEA LTD - ADR SG SE 460.85 $28,572.73
SEAGEN INC US SGEN 1,191.61 $183,853.72
SEMT 2013-6 A2 3.00000 05/25/2043 US 46,853.36 $43,800.43
SEMT 2013-7 A2 3.00000 06/25/2043 US 19,565.15 $17,543.47
SEMT 2013-8 A1 3.00000 06/25/2043 US 22,861.42 $21,423.90
SEMT 2013-2 1.87400 02/25/2043 US 17,740.2 $15,700.79
SERVICENOW INC US NOW 908.53 $394,867.17
SHOPIFY INC CA SHOP 388.41 $12,293.28
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 470,419.2 $393,872.42
SKYWORKS SOLUTIONS INC US SWKS 22.78 $2,244.86
JM SMUCKER CO/THE-NEW COM WI US SJM 22.44 $3,141.50
SNOWFLAKE INC-CLASS A US SNOW 1,089.63 $197,167.76
SOFI 2017-F A2FX 2.84000 01/25/2041 US 8,064.48 $7,904.82
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 38,113.91 $37,356.30
SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 25,474.64 $24,245.34
SONY CORP SPONSORED ADR JP SONY 2,560.39 $203,166.96
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 172,714.73 $155,106.56
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 79,366.67 $81,471.19
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 169,193.41 $172,326.42
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 27,317.61 $27,181.21
STANLEY BLACK & DECKER INC US SWK 21.31 $1,877.47
SRPT 2014-STAR A FLTG RATE 3.86200 11/15/2027 US 212,162.38 $148,660.09
STEEL DYNAMICS INC US STLD 39.19 $3,163.66
SUN COMMUNITIES US SUI 328.11 $50,433.85
SCML 2019-SBC8 2.86000 04/25/2041 US 111,227.94 $102,841.02
SYNCHRONOSS TECH US 2,243.95 $48,738.61
SYNERGY ONE LENDING 5.50000 10/14/2026 US 62,556.67 $54,015.88
TJX COMPANIES INC US TJX 103.67 $6,464.11
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 487.58 $40,639.63
TARGET CORP US TGT 36.94 $5,922.86
TENCENT HOLDINGS 3.97500 04/11/2029 KY 580,577.94 $547,190.20
TERRENO REALTY CORP US TRNO 416.89 $25,425.96
TEXAS INSTRUMENTS INC US TXN 64.1 $10,589.82
THERMO FISHER SCIENTIFIC INC US TMO 406.88 $221,881.18
3M CO US MMM 65.36 $8,126.99
TPMT 2016-5 A1 2.50000 10/25/2056 US 42,508.95 $42,083.31
TPMT 2017-1 A1 2.75000 10/25/2056 US 23,026.05 $22,828.42
TPMT 2019-HY1 A1 3.44371 10/25/2048 US 45,081.31 $44,574.93
TRACTOR SUPPLY COMPANY US TSCO 15.92 $2,948.03
TRAVELLERS COS INC US TRV 34.15 $5,519.94
TAH 2017-SFR2 A 2.92800 01/17/2036 US 118,002.51 $116,072.51
TCF 2021-1A 1.86000 03/20/2046 US 180,590.16 $156,145.58
TYSON FOODS INC -CL A US TSN 55.56 $4,188.31
UDR INC US UDR 1,011.25 $45,374.74
U.S. BANCORP US USB 177.32 $8,087.46
UNILEVER PLC - ADR GB UL 10,694.78 $485,435.92
UNION PAC CORP US UNP 60.38 $13,555.28
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 54,238.62 $45,691.96
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 9,142.91 $8,523.24
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 29,365.88 $29,391.82
UNITED PARCEL SERVICE US UPS 1,170.11 $227,598.74
US TREASURY N/B 3.00000 05/15/2047 US 522,720.35 $477,145.67
TREASURY BOND 2.37500 02/15/2042 US 3,114,497.25 $2,592,818.96
TREASURY BOND 2.25000 11/15/2027 US 2,908,912.29 $2,760,739.57
US TREASURY N/B 3.12500 11/15/2028 US 898,937.67 $889,597.15
US TREASURY N/B 2.25000 11/15/2025 US 1,928,705.68 $1,857,433.99
US TREASURY N/B 2.00000 11/15/2026 US 2,309,427.18 $2,183,491.23
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 1,451,941.98 $1,435,721.07
US TREASURY N/B 1.37500 11/15/2031 US 791,785.47 $680,316.93
VF CORP US VFC 52.49 $2,175.83
VENTAS INC US VTR 379.82 $18,178.11
VERTEX PHARMACEUTICALS INC US VRTX 944.05 $265,994.58
PARAMOUNT GLOBAL CLASS B US PARA 87.9 $2,055.96
VISA INC - CLASS A SHARES US V 2,579.86 $512,644.21
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 65,853.88 $63,505.65
VISTRA OPERATIONS 4.87500 05/13/2024 US 231,094.71 $228,453.49
WAL MART STORES US WMT 196.72 $26,075.17
WALGREENS BOOTS ALLIANCE INC US WBA 98.23 $3,443.89
WASTE MANAGEMENT INC US WM 50.53 $8,540.41
WELLTOWER INC. US WELL 438.75 $33,630.29
WIN 2015-1 A1 3.50000 01/20/2045 US 12,157.72 $11,708.95
ZOETIS INC US ZTS 587.49 $91,960.48
ADMIRAL GROUP PLC GB ADM LN 1,936.56 $47,636.94
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 935.95 $6,125.36
UBISOFT ENTERTAINMENT FR UBI FP 597.95 $27,574.49
DANONE FR BN FP 301.08 $15,842.77
AIR LIQUIDE FR AI FP 453.93 $56,883.13
BRENNTAG AG DE BNR GR 382.47 $25,077.68
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 172,432.89 $7,903.41
KEYWORDS STUDIOS PLC IE KWS LN 310.79 $8,957.14
S4 CAPITAL PLC GB SFOR LN 15,200.26 $23,362.33
HELIOS TOWERS PLC GB HTWS LN 9,449.48 $13,541.76
AVANZA BANK HOLDING AB SE AZA SS 1,458.27 $23,374.62
AMERICAN TANKER INC 7.75000 07/02/2025 US 59,620.08 $57,639.36
SOFTWAREONE HOLDING AG CH SWON SW 1,974.48 $25,958.74
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,113.58 $17,650.23
SEASPAN CORP 6.50000 02/05/2024 MH 48,490.38 $48,125.12
PETROTAL CORP 12.00000 02/16/2024 CA 46,521.43 $47,451.86
FINECOBANK SPA IT FBK IM 4,457.42 $48,195.00
ALLFUNDS GROUP PLC GB ALLFG NA 2,462.68 $19,335.69
AIRSWIFT GLOBAL AS FLT 11.42271 05/12/2025 NO 58,731.77 $58,894.59
ROTORK PLC GB ROR LN 8,494.39 $24,368.78
AUTO TRADER GROUP PLC GB AUTO LN 6,363.77 $48,050.79
CELLNEX TELECOM SA ES CLNX SM 700.83 $27,292.08
ASSA ABLOY AB-B SE ASSAB SS 1,373.74 $27,823.65
CLEANAWAY WASTE MANAGEMENT AU CWY AU 18,201.55 $34,570.31
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,739 $27,489.76
ADYEN NV NL ADYEN NA 28.06 $43,308.05
BANK OF N.T. BUTTERFIELD&SON BM NTB 544.76 $17,770.23
BUNGE LIMITED US BG 27.78 $2,754.74
EATON CORP PLC US ETN 53.15 $7,262.22
JOHNSON CONTROLS INTERNATIONAL US JCI 95.78 $5,185.35
MEDTRONIC INC IE MDT 2,813.69 $247,379.27
ROYALTY PHARMA PLC- CL A US RPRX 78.25 $3,271.46
STONECO LTD-A BR STNE 1,972.81 $18,702.22
TRANE TECHNOLOGIES IE TT 25.38 $3,909.90
ALCON INC CH ALC 3,639.87 $239,066.50
CHUBB LTD CH CB 47.17 $8,918.05
GARMIN LTD CH GRMN 34.88 $3,086.26
TE CONNECTIVITY LIMITED CH TEL 35.02 $4,420.35
LYONDELLBASELL INDU-CL A US LYB 36.21 $3,005.03
PLAYA HOTELS AND RESORTS US PLYA 1,147.23 $7,525.83
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 27,212.15 $26,168.52

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Extended Term CIT Fund and Manning & Napier Pro-Mix® Moderate Term CIT Fund. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

A Word About Risk

Each Manning & Napier Retirement Target CIT Fund is invested in one or two of four proprietary risk-based funds, the Manning & Napier Pro-Mix® CIT Funds, based on the Retirement Target CIT Fund becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing life cycle investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.


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